DocuSign (NASDAQ:DOCU) Stock Price Expected to Rise, Citigroup Analyst Says

DocuSign (NASDAQ:DOCU) had its price target hoisted by Citigroup from $113.00 to $115.00 in a research report released on Friday,Benzinga reports. They currently have a buy rating on the stock.

Several other equities research analysts have also recently issued reports on DOCU. Wedbush reiterated a “neutral” rating and issued a $100.00 price objective on shares of DocuSign in a report on Friday. JMP Securities restated a “market outperform” rating and set a $124.00 target price on shares of DocuSign in a report on Tuesday, January 7th. Wells Fargo & Company boosted their target price on DocuSign from $70.00 to $73.00 and gave the stock an “underweight” rating in a report on Friday. Needham & Company LLC restated a “hold” rating on shares of DocuSign in a report on Friday. Finally, UBS Group lowered their target price on DocuSign from $100.00 to $90.00 and set a “neutral” rating on the stock in a report on Friday. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $95.58.

DocuSign Trading Up 14.8 %

DOCU stock opened at $85.76 on Friday. DocuSign has a 12-month low of $48.70 and a 12-month high of $107.86. The stock has a market cap of $17.33 billion, a price-to-earnings ratio of 17.68, a PEG ratio of 6.94 and a beta of 1.02. The business’s 50-day moving average is $87.97 and its 200 day moving average is $79.52.

DocuSign (NASDAQ:DOCU) last posted its quarterly earnings data on Thursday, March 13th. The company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.02. DocuSign had a return on equity of 14.90% and a net margin of 34.73%. The company had revenue of $776.25 million for the quarter, compared to analysts’ expectations of $760.94 million. During the same period in the previous year, the firm posted $0.76 EPS. DocuSign’s revenue was up 9.0% compared to the same quarter last year. As a group, equities analysts forecast that DocuSign will post 1.17 EPS for the current fiscal year.

Insider Activity

In other news, CFO Blake Jeffrey Grayson sold 15,588 shares of DocuSign stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $97.78, for a total transaction of $1,524,194.64. Following the sale, the chief financial officer now owns 85,851 shares of the company’s stock, valued at approximately $8,394,510.78. The trade was a 15.37 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Robert Chatwani sold 14,800 shares of DocuSign stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $97.76, for a total transaction of $1,446,848.00. Following the sale, the insider now directly owns 73,414 shares in the company, valued at approximately $7,176,952.64. The trade was a 16.78 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 95,888 shares of company stock valued at $8,856,718. 1.66% of the stock is currently owned by company insiders.

Institutional Trading of DocuSign

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DOCU. FMR LLC raised its position in DocuSign by 178.2% in the fourth quarter. FMR LLC now owns 6,101,024 shares of the company’s stock valued at $548,726,000 after purchasing an additional 3,908,139 shares during the period. Invesco Ltd. raised its position in DocuSign by 283.9% in the fourth quarter. Invesco Ltd. now owns 3,447,275 shares of the company’s stock valued at $310,048,000 after purchasing an additional 2,549,310 shares during the period. Norges Bank purchased a new stake in DocuSign in the fourth quarter valued at approximately $223,196,000. Arrowstreet Capital Limited Partnership raised its position in DocuSign by 201.6% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,158,311 shares of the company’s stock valued at $194,118,000 after purchasing an additional 1,442,639 shares during the period. Finally, Jericho Capital Asset Management L.P. raised its position in DocuSign by 34.0% in the fourth quarter. Jericho Capital Asset Management L.P. now owns 4,754,753 shares of the company’s stock valued at $427,642,000 after purchasing an additional 1,205,500 shares during the period. Hedge funds and other institutional investors own 77.64% of the company’s stock.

About DocuSign

DocuSign, Inc provides electronic signature solution in the United States and internationally. The company provides e-signature solution that enables sending and signing of agreements on various devices; Contract Lifecycle Management (CLM), which automates workflows across the entire agreement process; Document Generation streamlines the process of generating new, custom agreements; and Gen for Salesforce, which allows sales representatives to automatically generate agreements with a few clicks from within Salesforce.